India is contemplating a prolonged slowdown as cases of coronavirus reach its countryside. The expanded fiscal deficit can also hinder India’s capacity to produce further stimuli. “Indeed, the economic situation has worsened since April and May, and we are likely moving toward a longer economic slowdown than previously anticipated, “said a finance ministry official. He expects India’s GDP in the Jun to contract 22.2 per cent.
Did you check the recent updates in Issues-in-News?